Private equity firm the Carlyle Group has raised the size of its block deal in PNB Housing Finance, aiming to now offload a 12.8 percent stake as compared to the earlier offer size of 6.4 percent stake, CNBC-TV18 reported citing sources.
Along with this, the PE firm now aims to earn Rs 2,511 crore from the stake sale as compared to previous Rs 1,256 crore.
The floor price of the block deal is expected to be Rs 755 per share, implying a 5 percent discount from the previous closing level of the stock.
CNBV-TV18 had previously reported on July 29 that Carlyle Group was eyeing the sale of upto 6.4 percent stake in the lender, aiming to bag Rs 1,255.6 crore from the divestment.
Motilal Oswal Investment Advisors Ltd and IIFL Securities were acting as the book-running brokers for the transaction, the report added.
Meanwhile, the report also stated that the stake sale will unlock a 90-day lock-in period on any further sale of shares by the Carlyle Group.
The Carlyle Group holds a 32.68 percent stake in the housing finance lender through its affiliate Quality Investment Holdings PCC as per the company's June quarter shareholding data.
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